How to Choose a Cyber Liability Insurance Policy

An increasing number of businesses use technology to manage their company, connect with clients and become more efficient. Unfortunately, this also means these businesses are at risk of data breaches and other computer-related crimes. As you choose your business insurance coverage in Orlando, it is important to purchase a cyber security policy.

Purchase More Than You Think You Need

If you suffer a security breach and don’t have enough insurance to cover it, you could be liable for thousands or even millions of dollars, depending on how large your business is. Ask your financial advisor to help you determine the type of financial impact a breach would have on your company. Be sure to reexamine your policy as your business grows.

Understand What It Covers

Your insurance company decides what it will cover with a cyber liability policy. When seeking business insurance coverage in Orlando, ask the company exactly what the policy will cover and ensure you get it in writing. Typical options include legal representation, notifying victims, credit monitoring, public relations and forensic investigation.

Work With an Experienced Company

Although more insurance companies are jumping to offer cyber liability insurance, they may not know exactly what it means. Ask potential companies if they’ve handled cyber liability claims in the past and how those claims turned out. You want to work with a company that doesn’t only offer the policy, but understands how a breach can affect your company.

Cyber liability insurance is a necessity when seeking business insurance coverage in Orlando. Don’t let it slip by the wayside as you may regret it in the future.